Michael Saylor Celebrates Four Years of MicroStrategy’s Bitcoin Investment
This past Sunday, Michael Saylor, co-founder of MicroStrategy, marked the fourth anniversary of the company's significant Bitcoin investment.
On August 11, 2020, MicroStrategy, a business intelligence firm that had struggled with stagnant stock performance for years, made headlines by adopting Bitcoin as its main treasury reserve asset.
Four years ago today, MicroStrategy adopted #Bitcoin as its primary treasury reserve asset; since then $MSTR has outperformed 499 of 500 stocks in the S&P 500. pic.twitter.com/Db7GVeyc9a
— Michael Saylor⚡️ (@saylor) August 11, 2024
Founded in 1989 and going public in 1998, MicroStrategy experienced a dramatic rise in its stock value during the late 1990s dot-com boom.
However, the company faced a severe downturn in the early 2000s following a revenue restatement due to new SEC guidelines aimed at preventing inflated financial figures. This scandal resulted in a massive loss for Saylor, who famously lost $6 billion in a single day
READ MORE: US Proposes Tax-Free Bitcoin Zone to Boost Digital Economy
After nearly two decades of underperformance, MicroStrategy’s fortunes turned around with its Bitcoin investment. According to Saylor, the company’s stock has outperformed 499 of the 500 stocks in the S&P 500.
Additionally, MicroStrategy was included in the MSCI World Index earlier this year, reflecting its success in surpassing Bitcoin’s performance. Despite reporting a $102.6 million loss in the last quarter and being ineligible for the S&P 500, Saylor has affirmed that MicroStrategy will continue its Bitcoin acquisitions.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
